According to the theory of rational ignorance, which of the following prevents people from voting?
a. If they feel their vote will not matter in the election
b. If they will be required to show voter identification
c. If they believe that politicians are unethical
d. If they do not belong to a specific political party
a. If they feel their vote will not matter in the election
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When business firms get to be too big, they are suffering from ____________________.
Fill in the blank(s) with the appropriate word(s).
The use of discretionary fiscal policy is hampered by i. difficulty of estimating the level of potential GDP. ii. lack of accuracy of economic forecasts. iii
the small impact tax cuts and increases in government expenditure have on aggregate demand. A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
Governments exist to
A) maintain property rights. B) provide non-market mechanisms for allocating scarce resources. C) implement arrangements that redistribute wealth and income. D) all of the above.
The following is cost information for the Creamy Crisp Donut Company: Entrepreneur's potential earnings as a salaried worker = $50,000 Annual lease on building = $22,000 Annual revenue from operations = $380,000 Payments to workers = $120,000
Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Refer to the data. Creamy Crisp's explicit costs are: A. $286,000. B. $150,000. C. $94,000. D. $156,000.